As the coronavirus pandemic swept through every corner of the business world, America’s small companies, from local restaurants to Main Street stores, were among the hardest hit.
How can small employers navigate the many questions of strategy, management, finance and leadership that they face on the path to recovery? This package of stories, along with a related series of live events, is a guide to help these small employers navigate the many questions they face on the path to recovery.
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A Florida Man Reportedly Used Covid-19 Small Business Loans to Buy $318,497 Lamborghini, Luxury GoodsIt is increasingly rare for the U.S. to come together over a common enemy (like, a global pandemic couldn’t even do that), but allow me to offer up David Tyler Hines. The 29-year-old Florida man applied for $13.5 million in taxpayer funds from the Paycheck Protection Program (PPP)—which sought to help small businesses keep employees on their payroll during coronavirus closures—and was approved for nearly $4 million in three forgivable, low-interest PPP loans despite the fact that he either did not actually have any employees to retain or paid them pennies compared to what he filed for, BuzzFeed reports. Not only that, but he has been charged with bank fraud after allegedly using the money on luxury goods for himself. Gotta love a huckster who uses covid-19 as an opportunity to go shopping!\n
Source: Jezebel - 🏆 153. / 63 Read more »
Big D.C. Companies Scooped Up Pandemic Aid Intended To Keep Small Businesses AfloatAmong the D.C.-based companies that got interest-free small business loans: Well-heeled consulting companies, law firms, a right-wing media outlet, a philanthropic arm of the Catholic Church, an 80-restaurant 'fast casual' chain. wamu885 wamu885 What? Corruption in a government program? Why I am shocked! Shocked I say! wamu885 Tf the Catholic Church need money for? They got god. wamu885
Source: NPR - 🏆 96. / 63 Read more »